BLOG - Guidance for Property Buyers and Sellers during the COVID-19 Pandemic

BLOG - Guidance for Property Buyers and Sellers during the COVID-19 Pandemic

Updated May 13: All information below is based upon the latest government announcement and in line with current guidelines.

The COVID19 pandemic has led to a semi-lockdown situation in England and across the United Kingdom and this has in turn impacted the property market. If you were in the middle of selling your home or buying a new property, it’s understandable you will have some worries. Here we’re looking at some key areas of concern and the government guidance in place to support you at this time. 

MOVING HOME AND COMPLETING SALES

Current government advice states that estate agents can open and the property market is open. This is in England only but it does mean we can begin to trade on a more “normal” basis whilst ensuring all social distancing measures are followed and where possible, virtual viewings and similar services are still available. On-site viewings can now be arranged but only with one person at a time and anyone visiting a property may be required to carry out a health questionnaire for their benefit and the benefit of employees carrying out viewings.

In some circumstances an extension can still be in place to halt moving to a new house until this is safe. This could be necessary if someone moving is vulnerable and needs to shield against the virus. UK Finance have confirmed that extensions will be supported, and mortgage offers may be able to be extended for up to three months to allow for a late moving date.

CAN YOU SELL A PROPERTY IN THE CURRENT CLIMATE?

Property transactions have not been suspended. We will progress your sale to exchange of contracts in the same way that we normally would. The government assert it is fine for the buying and selling process to continue at this time but all parties should be prepared for a longer process and patience will be required. As conditions change we may need to adapt your Completion date to ensure that we are complying with current government guidance on Social Distancing. 

FINANCIAL WORRIES AND MORTGAGE RELIEF

Many people will be worried about staying on top of their finances at the current time, and this includes mortgage payments. If you are worried about your employment and have a mortgage to keep on top of then these worries may be justified but the government has put some relief in place to protect homeowners impacted by COVID19 related unemployment or business downturn. Anyone concerned about making their payments should contact their lender initially and all should be able to access the three-month mortgage payment holiday the government has put in place.

WHAT ARE BRICKS & MORTAR DOING FOR YOU?

At Bricks & Mortar, we understand how difficult times are and are here to support our customers in any way we can. We’re still open for business, just in a different way. We’re finding new and innovative solutions to ensure our customers, and anyone interested in our services does not miss out.

Interested in one of our properties? We have full video walkthroughs of all of our properties ensuring you can get a feel for any home you’re considering putting an offer in for. For any new properties where don’t have a walkthrough we connect you to our clients via WhatsApp or FaceTime who then walk us around their property. We know it isn’t the same as actually stepping foot in the house, but we do our best to create a genuine and thorough viewing experience through video. We are also able to arrange regular viewings now and are committed to safe procedures to protect you and our colleagues.

Similarly, if you’re looking for market appraisals and valuations, we’ll work with you via video link, whether that’s Facetime or Zoom, to provide accurate and realistic appraisals for any property.

And don’t forget the Bricks & Mortar MyPropertyFile user interface is still accessible anytime, anywhere.

 

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